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On Thursday, the main 2009 contract of Shanghai aluminum fluctuated near the previous day's rebound high, closing at 18,705 yuan / ton, up 365 yuan / ton, or 1.
99%.
The center of gravity of Lun aluminum rose slightly, closing at $2465 / ton, up $39 / ton, or 1.
61%.
The average price of spot Yangtze River was 18,360 yuan / ton, up 340 yuan / ton, and the discount was 30 yuan / ton
for the month.
The average spot price of Nanchu was 18280 yuan / ton, up 330 yuan / ton, and the discount for the month was 110 yuan / ton
.
In the spot market, the market receives goods and waits and sees, and the intraday transaction is weak
.
East China extended the discount to -50 yuan / ton
for the month.
The Gongyi area is also downstream with strong fear of heights, and the discount for the 08 contract has widened to 250 yuan / ton
.
South China's shipment enthusiasm continued to increase, but the downstream wait-and-see did not change to a lighter transaction, and the discount to the month was around
110 yuan / ton.
On the macro front, U.
S.
GDP contracted by 0.
9% annualized in the second quarter, the second consecutive quarter of contraction, but the contraction was less than the 1.
6% in the first quarter, after the market expected a 0.
5%
increase in the second quarter.
The core PCE price index slowed to 4.
4% month-on-month in the second quarter, and personal consumption pointed to a slowdown to 1%.
The Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and economic work
.
The core revolves around expanding demand, stabilizing real estate and promoting infrastructure construction
.
The meeting emphasized that macro policies should actively act in expanding demand, and fiscal and monetary policies should effectively make up for the lack of social demand; supporting rigid and improved housing needs; Make good use of local government special bond funds
.
Industry news, Tianshan Aluminum has built 60,000 tons of high-purity aluminum production capacity, which is expected to reach 100,000 tons after all completion
.
The Australian Anti-Dumping Commission announced that it terminated the anti-dumping and anti-subsidy new export review investigation
of imported aluminum profiles by Chinese enterprise Dashiqiao Hengyuan Aluminum Co.
, Ltd.
On the whole, macro short-term profit is exhausted, the early excessive trading of interest rate hike expectations, recession expectations The current market has made a certain repair, the overall commodity has been given a certain respite, aluminum fundamentals There are also some fundamentals recently, such as warehouse receipt inventory reached near the historical low, the favorable change of small production reduction on the supply side, short-term aluminum prices are judged to be a shock upward revision trend, intraday attention to 18900 yuan / ton pressure
.
In the medium term, the downward pressure on the overseas economy is still there, and the probability of resuming production as scheduled after the aluminum ingot becomes a profit increases, and the expectation of reducing production decreases
.
The supply pressure problem persists in the medium term, and the supply and demand pattern of the traditional off-season of consumption restricts the upside of aluminum
.
